National Storage Affiliates Trust

National Storage Affiliates Trust (NYSE: NSA) is a real estate investment trust focused on the ownership, operation, and acquisition of self storage properties predominantly located within the top 100 metropolitan statistical areas throughout the United States. As of March 31, 2026, the company held ownership interests in and operated 1,061 self storage properties across 37 states and Puerto Rico, comprising approximately 69.3 million rentable square feet. NSA operates properties through both a wholly-owned consolidated portfolio (799 stores) and unconsolidated joint ventures (262 stores across four joint ventures in which NSA holds 25% ownership). The company generates revenue from rental income, other property-related revenue, and management fees including property management, call center, platform fees, and tenant insurance-related revenue. NSA is one of the largest owners and operators of self storage properties among public and private companies in the United States. The company is included in the MSCI US REIT Index, the Russell 1000 Index, and the S&P MidCap 400 Index. NSA has entered into a definitive merger agreement with Public Storage under which NSA will be acquired in an all-stock transaction. Updated Jun 8, 2026